Financial Management Report: CIMB vs. Maybank Financial Analysis

This financial management report provides a detailed analysis of the banking industry in Malaysia, focusing on the financial performance of CIMB Group Holdings Berhad and Malayan Banking Berhad. The report examines key financial statements, including balance sheets, income statements, and cash flow statements, to assess the companies' financial positions, profitability, and liquidity. The analysis covers various aspects, such as asset and liability comparisons, revenue trends, profit margins, and shareholder equity. The study reveals that Malayan Banking Berhad demonstrates a stronger financial position compared to CIMB, particularly in terms of asset growth and profitability. The report also includes an examination of retained earnings and cash flow patterns, offering insights into each bank's ability to manage finances and meet future obligations. Ultimately, the report provides recommendations for CIMB to improve its financial management and competitiveness in the Malaysian banking sector.

FINANCIAL
MANAGEMENT

EXECUTIVE SUMMARY
Financial management is referred to as an effective and efficient management of the
funds in a way that assists in the attainment of business objectives. It is referred to as a
specialized function that is directly attached with top management. Banking industry in Malaysia
can be traced back to early 1990s during the era of rapid economic development. This has been
mainly because of increase in profit accrued from the plantation of rubber as well as tin industry.
By making analysis of the balance sheet it has been gained that financial position of Malayan
Banking Berhad is sound as compared to CIMB Group Holdings Berhad. This is because there is
major increase in assets that are related with cash and cash equivalents. In addition to this by
making evaluation of the income statement of both the firms it has been gained that Malayan
Banking Berhad's profitability position is sound in comparison with its competitor that is CIMB
Group Holdings Berhad. This is because the sales of the firm is increasing to a greater extent.
The analysis of shareholder equity statement provides the information with respect to retailed
earning made by both the banks. It can be concluded from the study that retained profit of
Malayan Banking Berhad is higher as compared to CIMB Group Holdings Berhad which is due
to increase in the profitability that results in enhancing the amount which could be saved in order
to meet future contingencies. It has been inferred from the analysis of the cash flow statement
that net income of Malayan Banking Berhad is increasing as compared to CIMB Group Holdings
Berhad that possess decreasing net income. The company like CIMB Group Holdings Berhad
has unsound financial position. Thus it suggested to the company to keep a track on its expenses
so that it can increase its profitability to a greater extent.
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TABLE OF CONTENTS
Introduction .....................................................................................................................................4
TASK 1 ...........................................................................................................................................4
TASK 2 ...........................................................................................................................................5
TASK 3 liquidity analysis................................................................................................................8
TASK 4 debt analysis......................................................................................................................9
TASK 5 profitability analysis........................................................................................................10
TASK 6 valuation analysis ...........................................................................................................12
ADVANTAGES AND DISADVANTAGES OF RATIO............................................................13
CONCLUSION AND RECOMMENDATION.............................................................................13
References ...................................................................................................................................15
APPENDIX....................................................................................................................................17
3

INTRODUCTION
TASK 1
The corporation and its business competitors
Financial management is referred to as an effective and efficient management of the
funds in a way that assists in the attainment of business objectives. It is referred to as a
specialized function that is directly attached with top management. In addition to this, financial
management is also considered as planning, directing, organizing as well as controlling of
financial activities that are related with procurement and utilization of funds within the business
(Havrylchyk, 2006). In the present report, financial management has been discussed with respect
to banking industry in Malaysia. In this regard, two local banking firms have been taken into
account. This includes CIMB Group Holdings Berhad and Malayan Banking Berhad. CIMB
group is a leading ASEAN universal bank. Further, it is one of the largest Asian investment
banks which is headquartered in Kuala Lumpur, Malaysia. Corporation provides consumer
banking, wholesale banking, Islamic banking and asset management products as well as services
(Shen and Chih, 2005). CIMB is the fifth largest banking group in ASEAN that has over 40000
staff in around 17 locations. Malayan Banking Berhad is one of the competitors of CIMB group.
It is leader in Malaysia's regional financial services and serves around 22 million customers. The
firm possesses international network of over 2200 branches in across 20 countries.
Industry background
Banking industry in Malaysia can be traced back to early 1990s during the era of rapid
economic development. This has been mainly because of increase in profit accrued from the
plantation of rubber as well as tin industry. This has led to open the branches of foreign banks
within the country and assist in the establishment of first domestic bank in the country. In
Malaysia, there is greater transformation of banking industry which has led to introduction of
new financial services and products that include investment banking, trade as well as share
financing and Islamic banking (Belkhir, 2009). Increase in deregulation and enhancement in
liberalization play a crucial role in increasing flexibility of financial institution. Further, it also
offers opportunities for the new investments and enhancing the competitiveness of banking
sector. Recent developments in banking sector in Malaysia have led to positive outcomes for
4

financial system. In recent times, financial sector has revolutionized from traditional role that
relates with enabler of economic growth to crucial sources of own growth and expansion. In
Malaysia, banking sector is offering employment to at least 123000 citizens of the country.
Instead of global financial challenges in the initial decades, Malaysian banking sector has been
consistent at solid financial grounds. It has risk weighted capital ratio of 13%.
TASK 2
Summary of Balance sheet
CIMB Group Holdings Berhad
Balance sheet of CIMB group presents that in 2014, total assets of the company was
RM414156,000. This was lower in case of year 2013 which was RM370913,000. Further, it can
be examined that cash and cash equivalent in the year 2013 was RM29,90,7,000 and in the year
2014, it was RM29303,000. This presents that cash with the company in 2014 was less in
comparison with 2013. Thus, it can be said that sales of the company was lower in 2014 which
has reduced the amount of cash in the particular financial year. On the other hand, total
liabilities of the company in the year 2013 was RM313553,000 which has increased to
RM348604,000 in the year 2014. This implies an increase in the liability of CIMB Group which
is due to increase in long term debt of the company to a greater extent (Brigham and Houston,
2011).
5

Malayan Banking Berhad
From the analysis of balance sheet of Malayan Banking Berhad, it can be interpreted that
in 2014, total assets of the company was RM640300,000. Further, in the year 2013, it was lower
down and which was RM560319,000. Along with this, it can be examined that cash and cash
equivalent in the year 2013 was RM50870,000 and in the year 2014, it was RM61547,000. This
presents that cash with the company in 2013 was less as compared to 2014. Thus, it can be said
that sales of the company was lower in 2013 which has reduced the amount of cash within that
particular year. In contrast to this, total liabilities of the company in the year 2013 was
RM512576,000 which has increased to RM58559,000 in the year 2014. This implies an increase
in the liability of Malayan Banking Berhad which is due to increase in long term debt of the
company to a significant level (Athanasoglou, Brissimis and Delis, 2008).
6

Comparison of both the companies
With the comparison of balance sheet of both the companies that are CIMB Group
Holdings Berhad and Malayan Banking Berhad, it can be interpreted that financial position of
Malayan Banking Berhad is sound in comparison with CIMB Group Holdings Berhad. This is
due to increase in major asset of the firm that relates with cash and cash equivalent.
Income statement
CIMB Group Holdings Berhad
From the analysis of profit and loss account, it has been examined that total revenue of
the firm in the year 2013 was RM139700,00. This was RM12589,000 in the year 2014. Such
implies that sales of the company in 2013 was higher as compared to 2014. In addition to this,
gross profit of CIMB Group Holdings Berhad in the year 2014 was RM12139,000 which was
greater in case of year 2014 that was RM13547,000. Operating profit of the company in 2013
was RM5491,000 whereas in 2014, it was RM4289,000. This is due to increase in the operating
expenses of the firm which has reduced the profitability of organization to a significant level
(Laforet and Li, 2005). On the other hand, net income of CIMB Group Holdings Berhad in 2013
was RM4540,000 and in 2014, it was RM3107,000.
7

Malayan Banking Berhad
By carry out analysis of the income statement of Malayan Banking Berhad it has been
gained that the total revenue of the firm in the year 2013 was RM17656,000. This was
RM18054,000 in the year 2014. Such implies that sales of the company in 2014 was higher in
comparison with 2013. Along with this the gross profit of Malayan Banking Berhad in the year
2013 was RM17511,000 which was higher in case of year 2014 that is RM17915,000. The
operating income of the company in 2013 was RM8934,000 whereas in 2014 it was
RM9180,000. This is due to increase in the operating expenses of the firm which has resulted in
8

affected profitability of the firm to a significant level (Shapiro, 2008). On the other hand the net
income of the company in 2013 was RM6552,000 which was RM6716,000 in the year 2014.
Comparison of both the companies
By making comparison of income statement of both the companies that is CIMB Group
Holdings Berhad and Malayan Banking Berhad it can be interpreted that profitability of Malayan
Banking Berhad is sound as compared to CIMB Group Holdings Berhad. This is because of
increase in the sales of the company.
Shareholders equity statement
CIMB Group Holdings Berhad
In order to make analysis of the shareholders equity statement of CIMB Group Holdings
Berhad the retained earning of the firm has been compared. In the year 2013 the retained profit
9

was RM18892,000. This was greater in case of year 2014 that is RM20305,000. This implies that
value of retained earning in 2014 is higher. This is because the company has made huge
profitability that has allowed it to make greater saving out of the profits (Campa and Hernando,
2006). This would assists the business in meeting contingencies for future course of time.
Malayan Banking Berhad
For the purpose of making analysis of the shareholders equity statement of CIMB Group
Holdings Berhad the retained earning of the firm is being compared. In the year 2013 the
retained profit was RM21322,000. This was greater in case of year 2014 that is RM23093,000.
This implies that value of retained earning in 2014 is greater. This is because the company has
made huge profitability that has assisted it in making greater saving out of the profits. This
would act as an aid for the business in meeting contingencies in longer span of time.
Comparison of both the companies
With the comparison of shareholder equity statement of both the companies that is CIMB
Group Holdings Berhad and Malayan Banking Berhad it can be examined that retained profit of
Malayan Banking Berhad is higher as compared to CIMB Group Holdings Berhad. This is
because its profitability is greater which has resulted in increasing the amount that could be
saved for future course of time (García-Marco and Robles-Fernández, 2008).
Cash flow statement
CIMB Group Holdings Berhad
With the evaluation of the cash flow statement of CIMB Group Holdings Berhad it has
been examined that net income of the firm in 2014 was RM3107,000 whereas this was
RM4540,000 in 2013. In addition to this it has been gained that total cash flow from operating
activities is greater in 2014 that is RM(26819,000) which was RM(16,31,2000) in the year 2013.
This figure is negative which presents greater amount of cash outflow in both the years. On the
contrary cash flow from investing activities in the year 2014 is RM(9278,000). This was
RM(2909,000) in 2013. Further the total cash from financing activities in 2013 and 2014 was
RM23209,000 and RM34358,000 respectively. This present inflow of cash from financing
activity as the particular figures is positive.
Malayan Banking Berhad
10

By making analysis of the cash flow statement of Malayan Banking Berhad it has been
examined that net income of the firm in 2014 was RM6716,000 whereas this was RM6552,000
in 2013. In addition to this it has been gained that total cash flow from operating activities is
greater in 2014 that is RM(53942,000). This was RM(48150,000) in the year 2013. The
particular figure is negative which implies greater amount of cash outflow in both the years. In
contrast to this cash flow from investing activities in the year 2014 is RM(2920,00) which was
RM(880,000) in 2013. Further the total cash from financing activities in 2013 and 2014 was
56,75,4000 and 63,85,5000 respectively.
Comparison of both the companies
With the evaluation of cash flow statement of both the companies which includes CIMB
Group Holdings Berhad and Malayan Banking Berhad it can be said that net income of Malayan
Banking Berhad is increasing from previous year as compared to CIMB Group Holdings Berhad
that has decreasing net income. This is because of increasing expenses of the organization to a
greater extent (Lee and Hwan, 2005).
TASK 3 LIQUIDITY ANALYSIS
Malayan Banking Berhad
Liquidity ratios
2014 2013
Current Assets RM130966,000
RM107355,00
0
Current Liabilities RM521619,000
RM461588,00
0
Closing Stock RM126,000 RM90,000
Current Ratio Current Assets / current Liabilities 0.25 0.23
Quick Ratio (Cu. Assets - Cl. Stock)/Cu. Liabilities 0.25 0.23
CIMB Group Holdings Berhad
Liquidity ratios
2014 2013
Current Assets RM97576,000
RM93626,00
0
Current Liabilities RM348604,000
RM313553,0
00
Closing Stock RM357,000 RM188,000
11

Current Ratio Current Assets / current Liabilities 0.28 0.30
Quick Ratio (Cu. Assets - Cl. Stock)/Cu. Liabilities 0.28 0.30
Interpretation: Current ratio is effective measure of the firms ability to make payment of
its short term liabilities with its current assets. Current assets with the organization includes cash,
cash equivalents and marketable securities that can be easily converted into cash in short run.
This ratio is effective in shedding light on the overall debt burden of the organization. From the
analysis of above table it can be gained that current ratio of Malayan Banking Berhad in 2014 is
0.25 which is higher in comparison with year 2013 that is 0.23 (Malayan Banking Berhad,
2016). This implies the liquidity position of the company in 2014 is favorable. This is due to the
reason that it reflects that firm possess ability to make payment towards its current debts. In
contrast to this current ratio of CIMB Group Holdings Berhad in 2014 is 0.28 which is lower in
comparison with 2013 that is 0.30. This reflects that liquidity position of the company is unsound
as it reflects that CIMB Group Holdings Berhad is not able to make current debts payments.
On the other hand quick ratio is another liquidity ratio that measures the firm's ability to
pay its current liabilities when they only possess quick assets. Quick assets involves the current
assets which can be transformed into cash within 90 days. This includes cash, short term
investment, cash equivalents, marketable securities as well as current account receivables. By
analyzing the table above it can be gained that quick ratio of Malayan Banking Berhad in 2014 is
0.25 which is higher in comparison with year 2013 that is 0.23. This presents that the liquidity
position of the company in 2014 is favorable. This reflects that firm can pay off its current
liabilities without making sales of any long term assets (Chandra, 2011). In contrast to this
current ratio of CIMB Group Holdings Berhad in 2014 is 0.28 which is lower in comparison with
2013 that is 0.30. This reflects that liquidity position of the company is unsound as it
demonstrates that CIMB Group Holdings Berhad has to sale its long term assets to pay off its
current liabilities.
TASK 4 DEBT ANALYSIS
Malayan Banking Berhad
Debt ratio
2014 2013
Debt
RM36764,0
00
RM27916
0,00
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Equity
RM54741,0
00
RM47743
,000
Debt Equity Ratio Debt/ Equity 0.67 0.58
CIMB Group Holdings Berhad
Debt ratio
2014 2013
Debt
RM23287
,000
RM22354
,000
Equity
RM38391
,000
RM31229
,000
Debt Equity Ratio Debt/ Equity 0.61 0.72
Interpretation: Debt to equity ratio is referred to as financial liquidity ratio that makes
comparison among organization's total debt to total equity. This ratio reflects percentage of
company financing that is received from creditors as well as investors. Debt equity ratio is being
computed by dividing the total debt by total equity. Every industry possess varied debt to equity
ratio benchmarks. This is due to the reason that certain industries tend to make use more debt
financing as compared with others. It has been examined that lower debt to equity ratio implies
more financially stable position of firm. Firms that possess higher debt equity ratio are regarded
as more risky to creditors as well as investors (Bertrand, Schoar and Thesmar, 2007). The firms
that are leveraging greater amount of debt may not able to pay the amount.
By analyzing the table above it can be gained that Debt to equity ratio of Malayan
Banking Berhad in 2014 is 0.67 which is higher in comparison with year 2013 that is 0.58. This
presents that the financial position of the company in 2014 is unfavorable. This is because as the
company has higher debt equity thus it is considered more riskier by the investors and creditors.
In contrast to this debt to equity ratio of CIMB Group Holdings Berhad in 2014 is 0.61 which is
lower in comparison with 2013 that is 0.72. This reflects that financial position of the
organization is sound as it demonstrates that CIMB Group Holdings Berhad is regarded as lesser
riskier business that attracts investors as well as creditors towards the firm.
13

TASK 5 PROFITABILITY ANALYSIS
Malayan Banking Berhad
Ratios Formula 2014 2013
Profitability ratios
Gross profit
RM17915,00
0
RM17511,0
00
Operating profit RM9180,000
RM8934,00
0
Net profit RM671,6000
RM655,200
0
Net Sales
RM18054,00
0
RM17656,0
00
Gross Profit Ratio (Gross Profit/ Net Sales) *100 99.23 99.18
Operating Profit Ratio
(Operating Profit/ Net Sales)
*100 50.85 50.60
Net Profit Ratio (Net Profit/ Net Sales) *100 37.20 37.11
CIMB Group Holdings Berhad
Ratios Formula 2014 2013
Profitability ratios
Gross profit
RM12139
,000
RM13547
,000
Operating profit
RM4289,
000
RM5491,
000
Net profit
RM3107,
000
RM4540,
000
Net Sales
RM12589
,000
RM13970
,000
Gross Profit Ratio (Gross Profit/ Net Sales) *100 96.43 96.97
Operating Profit Ratio (Operating Profit/ Net Sales) *100 34.07 39.31
Net Profit Ratio (Net Profit/ Net Sales) *100 24.68 32.50
Interpretation: Gross profit ratio is referred to as the profitability ratio that makes
comparison of gross margin of the firm to net sales. It is the ratio that measures the extent to
which the company is profitable when it makes sales of its inventory. It is considered as the
percentage markup on the cost of inventory. By analyzing the table above it can be gained that
Gross profit ratio of Malayan Banking Berhad in 2014 is 99.23 which is higher in comparison
with year 2013 that is 99.18. This presents that the financial position of the company in 2014 is
14

favorable. This implies that company possess the ability to make payment towards its operating
expenses that includes rent, salaries as well as utilities. On the other hand gross profit ratio of
CIMB Group Holdings Berhad in 2014 is 96.43 which is lower in comparison with 2013 that is
96.97 (CIMB Group Holdings Berhad, 2016). This reflects that financial position of the
organization is unsound as it reflects that CIMB Group Holdings Berhad does not have enough
cash to meet its operating expenses.
Operating profit ratio is regarded as another profitability ratio that examines the extent to
which total revenues is made up by operating income. Operating ratio presents the amount of
revenue that are left over all entire cost of operating is being paid off. From the analysis of table
above it can be interpreted that operating profit ratio of Malayan Banking Berhad in 2014 is
50.85 which is higher in comparison with year 2013 that is 50.60. This implies that the financial
position of the company in 2014 is sound and stable. This presents that firm make adequate
amount of cash from its ongoing operations in order to make payment for its variable and fixed
costs. On the other hand operating profit ratio of CIMB Group Holdings Berhad in 2014 is 34.07
which is lower in comparison with 2013 that is 39.31. This reflects that financial position of the
organization is unsound as it reflects that CIMB Group Holdings Berhad does not have enough
cash to make payment for variable and fixed costs.
Net profit ratio is also referred to as profit margin ratio. It is another profitability ratio
that measures the amount of net income earned with each dollar of sales which is being
generated through the comparison of net income and net sales of the organization. By carrying
out analysis of table above it can be gained that net profit ratio of Malayan Banking Berhad in
2014 is 37.20 which is higher in comparison with year 2013 that is 37.11 (Profit margin ratio,
2015). This implies that the financial position of the company is sound in 2014. Further it
presents that organization is able to manage its expenses in relation to its net sales. On the other
hand net profit ratio of CIMB Group Holdings Berhad in 2014 is 24.68 which is lower in
comparison with 2013 that is 32.50. This reflects that financial position of the company is
unsound as it reflects that CIMB Group Holdings Berhad does not have enough cash in order to
meet its expenses.
15

TASK 6 VALUATION ANALYSIS
In case of valuation analysis firms stock price enters in the investment analysis. Valuation
ratio includes different ratios such as price earning ratio, price to growth, price to sales and price
to book (Xiaogang, Skully and Brown, 2005). By carrying out analysis it can be gained that
earning per ratio of Malayan Banking Berhad in 2014 is -2.11 which is higher in comparison
with year 2013 that is 4.13. This implies that the financial position of the company is sound in
2013. Further it presents that organization is able to earn greater amount from its shares. On the
other hand earning per share of CIMB Group Holdings Berhad in 2014 is -37.50 which is lower
in comparison with 2013 that is 2.74. This reflects that financial position of the company is
unsound as it reflects that CIMB Group Holdings Berhad does not have ability to earn from the
investment made in shares.
ADVANTAGES AND DISADVANTAGES OF RATIO
The major advantage of ratio computation is that it is effective in determining the
financial position of the company to a greater extent. Further the business can effectively make
comparison with its competitors. However with the absence of certain figures in financial
statement the ratio may not be calculated with effectiveness and affects the accuracy in
outcomes. This acts as major drawback of ratio computation. Profitability Ratio: It is effective in determining the profitability position of the company.
But it does not consider other factors into account while making calculation of the
business profitability. Liquidity Ratio: It can effectively examine the liquidity position of the company.
However it does not examine the extent to which the firm is able transform its liquid
assets into cash. Debt equity ratio: It determines the efficiency of the firm. But does not takes into account
entire liability of the firm.
CONCLUSION AND RECOMMENDATION
It can be concluded from the study that the role of financial management is effective in
managing the business funds to a greater extent. It has been inferred from the report that
management of financial is important in attaining organization targets to a greater extent. This
16

acts as an aid in enhancing the survival of the business in the market for long run course of time.
The study carried above makes analysis of the financial position of the company. For this
liquidity, debt analysis, profitability as well as valuation analysis has been carried out. By
making analysis of the balance sheet it has been gained that financial position of Malayan
Banking Berhad is sound as compared to CIMB Group Holdings Berhad. This is because there is
major increase in assets that are related with cash and cash equivalents. In addition to this by
making evaluation of the income statement of both the firms it has been gained that Malayan
Banking Berhad's profitability position is sound in comparison with its competitor that is CIMB
Group Holdings Berhad. This is because the sales of the firm is increasing to a greater extent.
The analysis of shareholder equity statement provides the information with respect to retailed
earning made by both the banks. It can be concluded from the study that retained profit of
Malayan Banking Berhad is higher as compared to CIMB Group Holdings Berhad which is due
to increase in the profitability that results in enhancing the amount which could be saved in order
to meet future contingencies. It has been inferred from the analysis of the cash flow statement
that net income of Malayan Banking Berhad is increasing as compared to CIMB Group Holdings
Berhad that possess decreasing net income.
Based upon the analysis carried above there are several recommendation that can be
made to both the firms that is Malayan Banking Berhad and CIMB Group Holdings Berhad in
order to improve their performance. The company like CIMB Group Holdings Berhad has
unsound financial position. Thus it suggested to the company to keep a track on its expenses so
that it can increase its profitability to a greater extent. Further the bank can make use of several
promotion strategy in the market so as to enhance its sales to a significant level. On the other
hand the financial position of Malayan Banking Berhad is sound but it is important to maintain
the current position in order to sustain in the market for long period of time.
17

REFERENCES
Journals and Books
Athanasoglou, P. P., Brissimis, S. N. and Delis, M. D., 2008. Bank-specific, industry-specific
and macroeconomic determinants of bank profitability. Journal of international financial
Markets, Institutions and Money. 18(2). pp.121-136.
Belkhir, M., 2009. Board of directors' size and performance in the banking industry.
International Journal of Managerial Finance. 5(2). pp.201-221.
Bertrand, M., Schoar, A. and Thesmar, D., 2007. Banking deregulation and industry structure:
Evidence from the French banking reforms of 1985. The Journal of Finance. 62(2). pp.597-
628.
Brigham, E. and Houston, J., 2011. Fundamentals of financial management. Cengage Learning.
Campa, J. M. and Hernando, I., 2006. M&As performance in the European financial industry.
Journal of Banking & Finance. 30(12). pp.3367-3392.
Chandra, P., 2011. Financial management. Tata McGraw-Hill Education.
García-Marco, T. and Robles-Fernández, M. D., 2008. Risk-taking behaviour and ownership in
the banking industry: The Spanish evidence. Journal of Economics and Business. 60(4).
pp.332-354.
Havrylchyk, O., 2006. Efficiency of the Polish banking industry: Foreign versus domestic banks.
Journal of Banking & Finance. 30(7). pp.1975-1996.
Juan García-Teruel, P. and Martinez-Solano, P., 2007. Effects of working capital management on
SME profitability. International Journal of managerial finance. 3(2). pp.164-177.
Laforet, S. and Li, X., 2005. Consumers' attitudes towards online and mobile banking in China.
International journal of bank marketing. 23(5). pp.362-380.
Lee, M. C. and Hwan, S., 2005. Relationships among service quality, customer satisfaction and
profitability in the Taiwanese banking industry. International Journal of Management. 22(4).
pp.635.
Shapiro, A. C., 2008. Multinational financial management. John Wiley & Sons.
Shen, C. H. and Chih, H. L., 2005. Investor protection, prospect theory, and earnings
management: An international comparison of the banking industry. Journal of Banking &
Finance. 29(10). pp.2675-2697.
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Xiaogang, C., Skully, M. and Brown, K., 2005. Banking efficiency in China: Application of
DEA to pre-and post-deregulation eras: 1993–2000. China Economic Review. 16(3). pp.229-
245.
Online
CIMB Group Holdings Berhad. 2016. [Online]. Available through:
<http://www.bursamalaysia.com/market/listed-companies/list-of-companies/plc-profile.html?
stock_code=1023>. [Accessed on 17th March 2016].
Malayan Banking Berhad. 2016. [Online]. Available through:
<http://www.bursamalaysia.com/market/listed-companies/list-of-companies/plc-profile.html?
stock_code=1155>. [Accessed on 17th March 2016].
Profit margin ratio. 2015. [Online]. Available through:
<http://www.myaccountingcourse.com/financial-ratios/profit-margin-ratio>. [Accessed on
17th March 2016].
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APPENDIX
Profit and loss account of CIMB Group Holdings Berhad
20

Profit and loss account of Malayan Banking Berhad
21

Balance sheet of CIMB Group Holdings Berhad
22

Balance sheet of Malayan Banking Berhad
23

24